Quote:
Originally Posted by packs
I don't know what an aggressive 401K looks like. If you owned anything you took a huge hit. But it only matters if you don't have time to recover. Anyone looking to retire this year is probably rethinking that. Anyone who planned to cash out their accounts won't have enough time to recover before they need the money.
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In many 401K's you have the option of how you want to put your money. Back in the day at Beckett we had something like 10 options from something akin to low risk/low reward investments to ultra aggressive investments. And many options in between. You had the choice of where to put your money in terms of percent. I will still say, if you are approaching retirement age and have a large sum in the 401K to pull back from being aggressive and go to basically stable places to put your money. if you went conservative and are in your early 60's you still have last money this month but not nearly as much as being uber aggressive.
Rich